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Property Buying Guidelines For NRIs In India

The depreciating rupee value, the volatile Indian realty market, attractive NRI schemes and the fanaticism to own a property in India have all contributed to an increasing number of NRI property investments. FEMA (Foreign Exchange Management Act), which falls under the purview of Reserve Bank of India (RBI) was introduced in the year 1999 to...Read more

Chennai devpt body seals three buildings that violated rules in George Town

CHENNAI: Cracking the whip on illegal constructions, the Chennai Metropolitan Development Authority (CMDA) on Friday sealed three multi-storey buildings in George Town area. While two of the the ground-plus-two-floor buildings that faced the axe are at Anna Pillai Street, the third is at Coral Merchant Street in Mannady. “These buildings got approvals for certain number...Read more

Buyers grab flats for low rates but sans occupancy certificate

Bengaluru: Ravishankar (name changed) and his wife were on top of the world when they recently started living in their newly purchased apartment. A 2-BHK house for Rs. 45 lakh sounded like a good deal, for which they obtained a bank loan too, all facilitated by the builder. But their happiness was shortlived. “We were...Read more